Achaogen Inc. (AKAO) Trading Down 3.7%

Shares of Achaogen Inc. (NASDAQ:AKAO) dropped 3.7% during mid-day trading on Wednesday . The stock traded as low as $3.93 and last traded at $3.94, with a volume of 58,825 shares trading hands. The stock had previously closed at $4.09.

A number of analysts have recently weighed in on AKAO shares. Cowen and Company lowered shares of Achaogen from an “outperform” rating to a “market perform” rating in a report on Thursday, March 31st. Needham & Company LLC lowered shares of Achaogen from a “buy” rating to a “hold” rating in a report on Wednesday, March 16th. Wedbush upgraded shares of Achaogen from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $7.00 to $10.00 in a report on Tuesday, June 14th. Finally, Zacks Investment Research upgraded shares of Achaogen from a “sell” rating to a “hold” rating in a report on Friday, March 11th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $10.63.

The firm has a 50-day moving average of $3.75 and a 200 day moving average of $3.82. The firm’s market cap is $73.82 million.

Achaogen, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in the discovery, development and commercialization of antibacterials to treat multi-drug resistant (MDR) gram-negative infections. The Company is developing plazomicin, its lead product candidate, for the treatment of serious bacterial infections due to MDR Enterobacteriaceae, including carbapenem-resistant enterobacteriaceae (CRE).